Caliber Collision announced a new strategic relationship with Bosch, the global supplier of automotive aftermarket components and service solutions. A next-generation diagnostic scanning and technology platform from Bosch is expected to be implemented in all Caliber Collision centers by the end of 2022. The Bosch product features new original equipment manufacturer (OEM) scanning software that […]
State Farm Ventures Among Investors in AI-Computer Vision Company
Nexar’s network of dash cameras collect more images that are being used to create a complete digital twin of U.S. roads. Nexar, an artificial intelligence (AI) computer vision company, announced the completion of a $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, […]
Maaco Recognizes Top Franchisees During Virtual Summit
Maaco announced its annual award winners as part of its its 2021 virtual summit, themed, the Power of Better, on November 17. Over the last year, the entire Maaco family has committed to elevating its brand, providing better customer service, creating a better team, simply put; being better in every facet of its business. That’s […]
U.S. Traffic Volume Near 2019 Levels in September
September traffic bounced back from August decline to third best month since start of pandemic compared to 2019. Travel volume in September increased on a year-over-year basis and the decrease compared to 2019 levels was the third smallest since the start of the pandemic. Travel for the month of September is estimated at 266.7 billion […]
Sentinel Capital Partners Acquires Empire Auto Parts
Sentinel Capital Partners, a private equity firm, announced its acquisition of Empire Auto Parts, a distributor of aftermarket collision repair parts. Terms of the deal were not disclosed. Headquartered in Totowa, N.J., Empire operates five distribution hubs and 22 satellite delivery locations across 16 contiguous eastern states. With a vast assortment of top-quality products and […]
Copart Reports Revenue of $810 Million in Fiscal 2022 First Quarter
Copart, Inc. (NASDAQ: CPRT) reported revenue of $810.1 million for its fiscal 2022 first quarter financial ended October 31, 2021, an increase of $217.2 million, or 36.6%, from the previous year. Gross profit was $385.0 million, up $88.3 million, or 29.7% during the quarter and net income was $260.4 million, an increase of $60.1 million, […]
IAA and Fastlane Partner to Streamline Total Loss Claims Settlements
IAA, Inc. (NYSE: IAA) announced a strategic industry partnership with Fastlane, a process automation technology company, to leverage its LossExpress solution, a secure platform that connects insurers with the largest active lienholder network in the United States. As the exclusive salvage provider partner to Fastlane, IAA is now positioned to become the first salvage company […]
U.S. House of Representatives Small Business Committee Holds Hearing with SBA Administrator
The Automotive Service Association (ASA) reported that the U.S. House of Representatives Small Business Committee held a hearing entitled “A Discussion with Small Business Administration (SBA) Administrator Isabella Casillas Guzman.” During the hearing, committee members discussed a variety of topics with Guzman, ranging from the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans […]
CAR Coalition Survey Says 78% of Vehicle-Owning Voters Support Federal Right to Repair Legislation
According to new study, consumers opposed to vehicle manufacturers’ use of design patents to restrict options for common repair parts, like bumpers and side mirrors. The CAR Coalition, a group of independent automotive parts and repair companies, associations, and insurers committed to preserving consumer choice and affordable vehicle repair, has released a national survey of […]
CIECA Announces 2021 Award Winners
CIECA announced its 2021 award recipients on November 3 at the SEMA show in Las Vegas, Nev. Award recipients included: Electronic Commerce Company of the Year: Car-Part.com, accepted by Jeff Schroder, Founding CEO Car-Part.com received this award for its extensive committee involvement and promoting CIECA Standards throughout the industry. Thank you to Jeff Schroder as […]
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